Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q1 2015 Earnings Presentation
10 slides from Anika Therapeutics's earnings presentation, Apr 29, 2015
Slide 1: Anika Therapeutics, Inc. First Quarter 2015 Investor Conference Call
Anika Therapeutics, Inc. First Quarter 2015 Investor Conference Call April 29, 2015 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement The statements made in this presentation that are not statements of historical fact are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve known an
Slide 3: Overview
Overview Solid first quarter results • Product revenue up 8% to $15.5M • U.S. Orthobiologics end user demand continues to be strong • Dermal and Veterinary franchises report YOY growth • Surgical franchise product revenue decreased due to timing of product shipments • Challenged by inventory reset o
Slide 4: Income Statement Highlights
Income Statement Highlights Q1 2014 Q1 2015 %Δ Product Revenue $14.4 $15.5 8% Q1 2014 results Total Revenue $34.0 $15.5 (54)% included $19.7M milestone and Product Gross Margin 70% 72% - contract revenue related to U.S. Operating Expenses $10.1 $10.0 (1)% license agreement for Monovisc®. Operating I
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights Strong cash and working capital position (In millions) 12/31/14 3/31/15 Cash and Investments $106.9 $112.3 $5.4M cash increase Working Capital $133.1 $139.8 • Solid cash from operations • Exercise of employee stock Stockholders’ Equity $178.1 $181.8 options 5
Slide 6: Viscosupplementation Highlights
Viscosupplementation Highlights Focused Domestic and International Expansion • 2015 target for Monovisc®: 5% market share Unique J-Code assignment became effective 1/1/15 41% sequential increase in Monovisc® end user sales in Q1 2015 Goal of Orthovisc® and Monovisc® market leadership in the U.S. in
Slide 7: Viscosupplementation Highlights
Viscosupplementation Highlights Cingal: Excellent progress during Q1 • Submitted PMA to the FDA in Q1 • Announced highly positive top-line Cingal results Trial data met all primary and secondary endpoints Product unequivocally demonstrates strong clinical benefit Patients received significant sympto
Slide 8: Product Pipeline
Product Pipeline Increased focus on regenerative medicine • Hyalomatrix®, lead wound care product, received CMS reimbursement coverage in 11 states and D.C. • Addresses $1.1B wound care biologics market • Progress on development of Hyalofast®, HA scaffold to regenerate cartilage • Filed IDE with the
Slide 9: 2015 Business Outlook
2015 Business Outlook Strongly positioned financially and operationally • Unique CMS J-Code and market momentum position Monovisc® for significant growth in 2015 • Cingal® and Hyalofast® advancing toward commercialization • CMS reimbursement coverage marks important milestone in commercialization of
Slide 10: Anika Therapeutics, Inc. First Quarter 2015 Investor Conference Call
Anika Therapeutics, Inc. First Quarter 2015 Investor Conference Call April 29, 2015 10